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PZ Cussons Ghana fiscal Q1 loss widens YOY

PZ Cussons Ghana Ltd. said its normalized net income for the fiscal first quarter ended Aug. 30 amounted to a loss of 2.7 million cedis, compared with a loss of 175,590 cedis in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 9.5% from negative 0.8% in the year-earlier period.

Total revenue rose 27.8% on an annual basis to 27.9 million cedis from 21.8 million cedis, and total operating expenses increased 41.6% from the prior-year period to 31.8 million cedis from 22.5 million cedis.

Reported net income came to a loss of 4.3 million cedis, or a loss of 3 pesewas per share, compared to a loss of 280,940 cedis, or a loss of 0 pesewas per share, in the prior-year period.

As of Oct. 14, US$1 was equivalent to 3.20 cedis.